Rothschild & Co has decided not to advise India's Adani in the financing or development of the $5.74 billion Carmichael coal mine in Queensland, Australia, a letter from the bank to an environmental group says.
The bank is also not advising the firm on the planned sale of stake in the Abbot Point Coal export terminal, said the May 12 confidential letter to Friends of the Earth, France.The Adani mine has divided Australian voters.The decision comes as banks and other financial institutions are facing increasing pressure to cut investments in coal, blamed for adding more carbon dioxide to the atmosphere than any other fuel, as the world moves to curb greenhouse gas emissions.
The Carmichael coal mine, which has been in planning since 2010, has become a lightning rod for debate on climate change ahead of Australia's May 18 election.Friends of the Earth said in a statement on Tuesday that the decision by Rothschild came after several requests from Friends of the Earth and partner organisations.
It added that the announcement came two days before the release of a report that would reveal the bank's significant activities in the coal sector."While other French banks have restricted their coal advisory services, Rothschild & Co sees a financial windfall and is currently advising Uniper on the sale of its French coal plants to EPH," the NGO said in the statement.
It said the organisation will be present at Rothschild's general assembly meeting in Paris on May 16, and would ask management to put an end to all financial services related to the coal sector.
Source: News Formal (newsformal.com)
If Ardani and Corrupt Gupta Family try and Sue Australia for breaking a SHAM Contract the Libs Signed the Day Before the Election was called. CONFICATE ALL THEIR ASSETS and ANY Other Companies That treat us as MUGS
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Source: abcnews - 🏆 5. / 83 Read more »
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Source: smh - 🏆 6. / 80 Read more »
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Source: abcnews - 🏆 5. / 83 Read more »
Labor's $1.5b plan to 'unlock' gas would create more emissions than Adani coal mine, experts sayLabor's $1.5b plan to 'unlock' gas would create more emissions than Adani coal mine, experts say | p_hannam LatimerCole p_hannam LatimerCole This is actually a good policy from Labor p_hannam LatimerCole 'Experts' p_hannam LatimerCole But, they need natgas to make up wind & solar's shortcomings & they dont include the CO2 from expanding natgas against renewable's footprint so its a great ideological & PR win. So, anyone want to guess if they are motivated by actual results, or the PR?
Source: smh - 🏆 6. / 80 Read more »
Reserve Bank rate cuts almost a certainty as it slashes economic outlookAfter putting on a brave face for the past six months or so, the Reserve Bank finally capitulates by slashing its economic expectations, making rate cuts soon all but a foregone conclusion.
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'The devil is in the detail': CSIRO pushed to approve Adani water plans within hoursInternal CSIRO correspondence reveals the science agency was pushed to formally accept the Federal Government's approval of Adani's water plans in a single afternoon. So the devil 👿 took the detail (or lack of) and passed it down like tablets of wisdom from the mount and all was fine? Fits nicely with ScottMorrisonMP view of the world based on some book that’s been around for a couple of thousand years. The devil is coming to get you Scotty! simonahac Why is this mine still on the table there are alarm bells going off. matthaggis666 CSIRO credibility trashed - by AusLiberals Govt. Once a great Australian institution with worldwide respect.
Source: abcnews - 🏆 5. / 83 Read more »
'Good at keeping themselves secret': Dubious group 'infiltrates' Stop Adani movementA mysterious environmental group fronted by dubious online identities spends more than a year trying to forge ties with the Adani protest movement while urging activists to target Clive Palmer. Sounds very right wing to me
Source: abcnews - 🏆 5. / 83 Read more »
'They think everyone wants to stop Adani': Anthony Albanese slams left-wing groupthinkThe Labor frontbencher and Liberal senator Arthur Sinodinos made candid observations about the election at a function on Wednesday night. Hey AlboMP Know where Adani is on the map. Don't want it. Bad idea. Be better. ... my respect for AlboMP just disappeared. The scientific advice is, no new Coal if the world is to have a chance at minimising global warming within 1.5°C. The location of the bloody mine, or who owns/operates it, doesn’t matter. AusVotes2019 AusPol KeepItInTheGround Hey AlboMP, I like everyone who cares one iota about our environment and the future of our planet wants to stop this Adani mine. This might well be Labor’s undoing auspol - wake up to yourselves!
Source: smh - 🏆 6. / 80 Read more »
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Source: abcnews - 🏆 5. / 83 Read more »
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